Small Business Datafiles.hawaii.gov/.../workshop/april2014/...present.pdfGross Domestic Product...
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Small Business Data Assess Your Competition Define Your Customers
Transcript of Small Business Datafiles.hawaii.gov/.../workshop/april2014/...present.pdfGross Domestic Product...
Small Business DataAssess Your CompetitionDefine Your Customers
Census Bureau Data CanAnswer Many Questions
What Is “Census Bureau Data?” Economic / business data Economic Census County Business Patterns (CBP) ZIP Code Business Patterns Survey of Business Owners (SBO) Nonemployer Statistics
Demographic data Decennial Census American Community Survey (ACS) Population Estimates Program (PEP)
Assess Your CompetitionEconomic Data
Where are your competitors?
What is the number of competing establishments?
What are their annual costs?
How many employees do they have?
What is their annual payroll? . . . annual sales?
What about complementary businesses?
Where are your suppliers?
Assess Your CompetitionEconomic Data
How does your industry rank? How many people are employed? What is the average salary for paid employees? How is the industry doing compared to previous
years? What is the establishment count in my area?
What is your business market potential? How big should your business be? What should your sales quotas be? How effective have your sales and advertising
programs been?
• Is the population growing or declining?
• Is this a youthful or aging population?
• Are there many single young people?
• What are the income levels?
• What are the levels of education?
• What languages do people speak?
• What is the racial/ethnic make-up of the area?
Define Your CustomersDemographic Data
Census Data Caveats Responses to all Census Bureau
questionnaires are private and confidential
Only aggregated data are released
No data or names provided on individual persons, households, or businesses
Disclosure avoidance protections also ensure that no individual, household, or business can be identified
Economic Programs
Gross Domestic Product(GDP) Producer
Price Index (PPI)& Productivity
Retail Sales& Other
Indicators
Statistics by
Industry
Statistics by
Geography
Employment, Payroll, Sales,
Locations,& Firms
PromotingSmall BusinessEmergency
Impacts
Transportation Uses
Owner Sex, Race,
Ethnicity, and Veteran Status
Franchising
Industry Concentration
by Firm Share
Business Marketing &Performance
Metrics
Business InvestmentPlanning
Local Economic Development
Economic CensusThe foundation for
measuring businessactivity across the
U.S. economy
Data toUnderstand Business
Competitiveness
Accurate Benchmarks for
Economic Indicators
Information on BusinessLocation and Size
Characteristicsof U.S.
Businesses
Consistent,Comparable,
ComprehensiveMeasures
Reliable business statistics from the Economic Census are critical to evaluating the condition of the American economy
11 Agriculture, Forestry,Fishing, and Hunting
21 Mining 22 Utilities23 Construction 31-33 Manufacturing 42 Wholesale Trade 44-45 Retail Trade 48-49 Transportation and
Warehousing51 Information 52 Finance and Insurance 53 Real Estate and Rental
and Leasing
54 Professional, Scientific and Technical Services
55 Management of Companies andEnterprises
56 Administrative and Support and Waste Management and Remediation Services
61 Educational Services62 Health Care and Social Assistance 71 Arts, Entertainment and
Recreation 72 Accommodation and Food Services 81 Other Services (except Public
Administration) 92 Public Administration
Not covered by Economic Census; Partial coverage in Economic Census
Economic Program DefinitionsNAICS Sectors
Economic Program DefinitionsEstablishments vs. Companies / Firms Establishment – A store, warehouse, factory, or other
type of business at a single physical location
Company (or Firm) – One or more establishments under common ownership or control
Economic Program DefinitionsTypes of Businesses
Employer establishments Businesses with 1 or more employees Covered by most of the economic programs
Nonemployer establishments Businesses with no paid employees. Make up
75% of all businesses in the U.S., but < 4% of receipts / revenue
Census programs with nonemployer data Economic Census Nonemployer Statistics Survey of Business Owners
I’ve Heard about Nonemployers… What are They?
Nonemployers are businesses with no paid employees.
• Primarily independent contractors
• File IRS Form 1040 Schedule C (not 941)
• Significant in number
• Significant in revenue in some industries
Economic Census
Conducted every 5 years in years ending in “2” and “7”
Covers most of the U.S. economy
Data based on industry of individual establishment (NAICS code)
Company or firm may have many establishments
Economic Census Content• County level Employers Number of establishments Value of sales, shipments, receipts, or revenue Annual payroll Number of paid employees week of March 12
Nonemployers Number of establishments Value of sales, shipments, receipts, or revenue
ZIP Code level Value of sales, shipments, receipts, revenue by range Number of establishments
County Business Patterns (CBP) Annual release Includes several variables: Number of paid employees Payroll (first quarter and annual) Total establishments Establishments by number of paid employees
Does not include: Nonemployer statistics (businesses with no
paid employees) Revenue or sales
Zip Code Business Patterns
Available shortly after the release of County Business Patterns
Includes:• Number of establishments by
employment size by detailed industry
Data Presented by:
• Gender, ethnicity, race, and veteran status
• Geography (U.S., states, metropolitan areas, counties, and places)
• Industry (2- through 6-digit NAICS for selected geographies)
• Firm receipts size• Firm employment size
2012 SBO Tentative Release Schedule:
Survey of Business Owners (SBO)
Economic ProgramsGeographic Coverage
Economic Programs:Data Release Thresholds U.S. States Metro
Areas Counties Cities ZIPCodes
Annual Survey of Manufactures 2010 2010
Building Permits 2012 2012 2012 2012 2012
Business Dynamics Statistics(firm size and age)
2010 2010
Commodity Flow Survey 2007 2007 2007
(County) Business Patterns 2010 2010 2010 2010 2010
Economic Census 2007, 2002 2007 2007 2007 2007 2007 2007
Enterprise Statistics 2007
Foreign Trade: State Exports 2011 2011
Governments 2010 2010 2009 2009
Local Employment DynamicsQuarterly Workforce Indicators
2011 2011 2011
Nonemployer Statistics 2010 2010 2010 2010
Statistics of U.S. Businesses(firms by size)
2009 2009 2009 2009
Statistics of U.S. Businesses(establishment births, deaths)
2009 2009 2009 2009
Survey of Business Owners (minorities, women, veterans)
2007 2007 2007 2007 2007
**All other Business and Industry data are published only at the national level**
Lowest levels
A Scenario for Entrepreneurs
You want to open a toy storein Hawaii and want data
on existing toy stores
Getting Started
• What NAICS code covers this industry?
• What programs do we have that provide data for this industry that she might be able to use?
Use the Industry Statistics Portal, which can be accessed off the Economic Census and the Business and Industry pages
Getting StartedNAICS Code for Toy Stores
North American Industry Classification System Launched in 1997 as part of NAFTA Codes are updated every 5 years Hierarchical
Level Code ExamplesSector 45 Retail Trade
Sub-Sector 451 Sporting Goods, Hobby, Book, and Music Stores
Industry Group 4511 Sporting Goods, Hobby, and Musical Instrument Stores
Industry 45112 Hobby, Toy, and Game Stores
U.S. Industry 451120 Hobby, Toy, and Game Stores
Finding the NAICS Code Online
Business TopicsCensus Homepage: census.gov
Links to Business & Industry page and Economic Census page
Business TopicsCensus Homepage: census.gov
Links to Business & Industry page and Economic Census page
Economic Censusbusiness.census.gov
Click Finding Data
Links to Business & Industry page and Economic Census page
Economic Census Page & Links
Link to Industry Statistics Portal
Industry Statistics Portal
Enter NAICS Code
Industry Statistics PortalLinks to Available Programs
American FactFinderAdvanced Search
Select Industry Codesenter 45112 and enter to Your Selections
GeographiesName Tab
Select Zip Codes – All HawaiiSelect tables
Economic Census ZIP Code SeriesEconomic Census EC0744Z9
Start with the Economic Census
Economic Census ZIP Code SeriesEconomic Census EC0744Z19
Start with the Economic Census
American FactFinder (AFF) Table 2007 Economic Census EC0200A1
American FactFinder (AFF) Table 2007 Economic Census EC0700A1
How Is This Industry Doing?
The data gathered every 5 years from the Economic Census and the annual data from County Business Patterns and other program can be used in a business plan -
• To measure how an industry or community has performed historically, and
• To forecast the expected sales of a business in the future
What types of products and services should I offer?
Data on products and services sold by businesses are available in the Product Lines data from Economic Census.
• Can be used in a business plan to identify the primary and secondary sources of sales of the business
How Big Should My Business Be?
The Economic Census includes data broken out by the sales and employment size of the business
• Can be used in a business plan to understand the size of a “typical” business in an industry
• Can also be used to forecast the future growth of a business to it’s most efficient size
What about Franchising?
The Economic Census also publishes data broken out by franchise status for selected industries engaged in franchising.
• Can be used to understand to importance of franchise (vs non-franchise) businesses in the industry
• Can be used in a business plan to justify the cost of franchise fees
What About Complementary Businesses?
Determining a good location for a business is often not only based on where the customers are but also where other businesses that complement a business are located.
Data for these complementary businesses are also available from the Economic Census and can be used in a business plan.
How About My Suppliers and a Source of Employees?
Determining a good location for a business can also be based on where suppliers are located.
A source of employees for the business can also impact this decision.
Data for these supplier businesses and employment resources are also available from the Economic Census and can be used in a business plan.
Anything Else?
In addition to the detailed data available from the Economic Census, the Survey of Business Owners also publishes data broken out by the race, ethnicity, gender, and veteran status of the business owner.
• Can be used to further understand the composition of an industry
